Mixed-Use Building with Retail
For Sale
$1,599,900
517521 517-521 Bay Ave, Point Pleasant Beach, NJ 08742
The property combines a storefront with two residential apartments under General Commercial zoning.
Property Size3,229 SF
Price / SF$495.48
Days on Market24
Property Features for 517521 517-521 Bay Ave
General Information
Standard status
Active
Size
3,229 SF
Zoning
General Commercial
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Bay Point Realtors
(732) 899-8202
Listed By:
James Hannam · License #4217851
Source:
Mynewjerseyrealestate
Added: Aug 7
Changed: Aug 30
Last Checked: Aug 25 at 5:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Bay Point Realtors
Investment Insights
Based on property information with market context.
This 3,229-square-foot mixed-use building, constructed in 1900, includes a retail area exceeding 1,000 SF and two residential apartments. One apartment occupies the second floor and provides two bedrooms, one bathroom, walk-up attic access, and a large attic area. The rear residence spans two levels and includes two bedrooms, one bathroom, and a front porch.
The property has tenant parking behind the building, with additional public parking lots nearby. Its downtown Point Pleasant Beach setting places the building near restaurants, shops, antique centers, the boardwalk, the train station, and Route 35. General Commercial zoning governs the property.
The property has tenant parking behind the building, with additional public parking lots nearby. Its downtown Point Pleasant Beach setting places the building near restaurants, shops, antique centers, the boardwalk, the train station, and Route 35. General Commercial zoning governs the property.
Key Highlights
- 3,229 SF mixed‑use building constructed in 1900
- Retail space exceeding 1,000 SF
- Two 2‑bedroom, 1‑bathroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,041
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,080,820
$1.1M
Cap Rate 7%
$772,014
$772.0K
Cap Rate 9%
$600,456
$600.5K
Market Conditions
NOI Build-Up for 3,229 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.5K $25.56/SF
− Vacancy
−$5.3K −$1.65/SF
EGI
$77.2K $23.91/SF
− OpEx
−$23.2K −$7.17/SF
NOI
$54.0K $16.74/SF
Area
Ocean County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,080,820
Cap Rate 7%
$772,014
Cap Rate 9%
$600,456
Alternative Uses
Best Use
Multifamily LT 5
$772.0K
$675.5K – $900.7K
NOI $54,041 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$709.4K
$620.7K – $827.6K
NOI $49,656 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$843.2K
$737.8K – $983.7K
NOI $59,021 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
Business Placement
Demographics for 08742, NJ
25,056
Population
12,604
Households
2
Avg Household Size
46
Median Age
52%
College-Educated
95%
High-School Grad
5.6 sq mi
ZIP Area
4,474
Density / Sq Mi
$111,983
Median Household Income
$57,547
Median Earnings
$1,879
Median Rent
$576,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a storefront with two residential apartments under General Commercial zoning.
Where is this mixed-use property located?
The property is located at 517521 517-521 Bay Ave Point Pleasant Beach, NJ.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: 3,229 SF mixed‑use building constructed in 1900; Retail space exceeding 1,000 SF; Two 2‑bedroom, 1‑bathroom apartments
